Regency Energy unit offering prices at $19.12 each

AP News
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Posted: Dec 02, 2009 2:47 PM

Regency Energy Partners LP, a natural gas distributor, said Wednesday an offering of 10.5 million common units priced at $19.12 per unit.

The amount was increased from an earlier 10 million unit offering.

The company said it has also granted underwriters a 30-day option to purchase up to an additional 1.6 million common units, up from 1.5 million units.

Regency plans to use the net proceeds to pay off debt.

Shares of the company fell 84 cents, or 4.2 percent, to $19.12 in afternoon trading.

(This version CORRECTS the price of the offering in the headline.)